EGRIX vs. TIP
EGRIX (Eaton Vance Global Macro Absolute Return Advantage Fund) and TIP (iShares TIPS Bond ETF) are both funds - EGRIX is a Nontraditional Bonds fund managed by Eaton Vance, while TIP is a Inflation-Protected Bonds fund tracking the ICE U.S. Treasury Inflation Linked Bond Index. Over the past 10 years, EGRIX returned 6.53%/yr vs 2.53%/yr for TIP. At a correlation of -0.07, they often move in opposite directions. EGRIX charges 1.05%/yr vs 0.18%/yr for TIP.
Performance
EGRIX vs. TIP - Performance Comparison
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Returns By Period
In the year-to-date period, EGRIX achieves a 6.76% return, which is significantly higher than TIP's 1.40% return. Over the past 10 years, EGRIX has outperformed TIP with an annualized return of 6.53%, while TIP has yielded a comparatively lower 2.53% annualized return.
EGRIX
- 1D
- 0.32%
- 1M
- 0.89%
- YTD
- 6.76%
- 6M
- 8.31%
- 1Y
- 18.75%
- 3Y*
- 13.23%
- 5Y*
- 8.64%
- 10Y*
- 6.53%
TIP
- 1D
- 0.01%
- 1M
- 0.25%
- YTD
- 1.40%
- 6M
- 1.42%
- 1Y
- 4.76%
- 3Y*
- 4.00%
- 5Y*
- 0.91%
- 10Y*
- 2.53%
EGRIX vs. TIP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EGRIX Eaton Vance Global Macro Absolute Return Advantage Fund | 6.76% | 20.36% | 9.50% | 8.37% | -1.94% | 3.66% | 4.71% | 14.80% | -8.34% | 5.78% |
TIP iShares TIPS Bond ETF | 1.40% | 6.77% | 1.65% | 3.80% | -12.26% | 5.68% | 10.84% | 8.35% | -1.42% | 2.92% |
Correlation
The correlation between EGRIX and TIP is 0.22, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.22 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.28 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.08 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.03 |
Correlation (All Time) Calculated using the full available price history since Sep 1, 2010 | -0.07 |
The correlation between EGRIX and TIP shifts across timeframes, from -0.07 (all time) to 0.28 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
EGRIX vs. TIP — Risk / Return Rank
EGRIX
TIP
EGRIX vs. TIP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Eaton Vance Global Macro Absolute Return Advantage Fund (EGRIX) and iShares TIPS Bond ETF (TIP). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| EGRIX | TIP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +3.99 | ||
| Sortino ratioReturn per unit of downside risk | +5.53 | ||
| Omega ratioGain probability vs. loss probability | 2.42 | 1.24 | +1.18 |
| Calmar ratioReturn relative to maximum drawdown | 5.66 | 2.34 | +3.32 |
| Martin ratioReturn relative to average drawdown | 20.46 | 7.00 | +13.46 |
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Drawdowns
EGRIX vs. TIP - Drawdown Comparison
The maximum EGRIX drawdown since its inception was -14.17%, roughly equal to the maximum TIP drawdown of -14.57%. Use the drawdown chart below to compare losses from any high point for EGRIX and TIP.
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Drawdown Indicators
| EGRIX | TIP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.17% | -14.57% | +0.40% |
Max Drawdown (1Y)Largest decline over 1 year | -3.37% | -1.98% | -1.39% |
Max Drawdown (3Y)Largest decline over 3 years | -3.37% | -4.54% | +1.17% |
Max Drawdown (5Y)Largest decline over 5 years | -10.18% | -14.51% | +4.33% |
Max Drawdown (10Y)Largest decline over 10 years | -14.17% | -14.51% | +0.34% |
Current DrawdownCurrent decline from peak | -0.08% | -0.46% | +0.38% |
Average DrawdownAverage peak-to-trough decline | -1.84% | -3.43% | +1.59% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.93% | 0.66% | +0.27% |
Volatility
EGRIX vs. TIP - Volatility Comparison
The current volatility for Eaton Vance Global Macro Absolute Return Advantage Fund (EGRIX) is 0.86%, while iShares TIPS Bond ETF (TIP) has a volatility of 1.03%. This indicates that EGRIX experiences smaller price fluctuations and is considered to be less risky than TIP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EGRIX | TIP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.86% | 1.03% | -0.17% |
Volatility (6M)Calculated over the trailing 6-month period | 3.20% | 2.32% | +0.88% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.55% | 3.39% | +0.16% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.03% | 6.21% | -2.18% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.97% | 5.74% | -1.77% |
EGRIX vs. TIP - Expense Ratio Comparison
EGRIX has a 1.05% expense ratio, which is higher than TIP's 0.18% expense ratio.
Dividends
EGRIX vs. TIP - Dividend Comparison
EGRIX's dividend yield for the trailing twelve months is around 6.23%, more than TIP's 3.76% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EGRIX Eaton Vance Global Macro Absolute Return Advantage Fund | 6.23% | 6.65% | 6.00% | 3.40% | 4.82% | 4.89% | 5.82% | 4.15% | 0.06% | 3.22% | 1.78% | 6.67% |
TIP iShares TIPS Bond ETF | 3.76% | 3.46% | 2.52% | 2.73% | 6.96% | 4.28% | 1.17% | 1.75% | 2.71% | 2.07% | 1.48% | 0.34% |
Frequently Asked Questions
EGRIX and TIP have a correlation of 0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TIP has higher volatility (1.03%) compared to EGRIX (0.86%). In terms of maximum drawdown, EGRIX dropped -14.17% vs TIP's -14.57%.
EGRIX currently has the higher Sharpe Ratio (5.36 vs 1.37), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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